Pakistan to import sugar, cotton from India: Hammad Azhar

[INDIAPOSITIVE]

Yes...IPL, cricket series and india to get direct land route access till central asia via afghanistan...much more...just ask PM Modi to call our PM or have one visit here...no one will take about kahsmir now

https://twitter.com/x/status/1377561492208414723

 

[Patriot forever]

404. Youthias not found on this thread

The proposal was rejected. Don't know why people whose leader was an Indian arse licker are ejaculating on this thread.

On a serious note from an economic angle, this would have helped reign in the cartels in sugar industry. Vegetable prices e.g. Tomato would have been much more stable through out the year.
My point is people should understand the economic angle and be prepared because if you want the government to take a principled stand than people should also stand with the decision.

 

[H!TchHiker]

https://twitter.com/x/status/1377561492208414723

Lol..no problem now modi is again hitler and small men in big office

 

[Raj-Hindustani]

https://twitter.com/x/status/1377561492208414723

This is a problem of India and Pakistan. If the government wants to take any decision but faced high criticism then again take the U-turn.

It is a kind of test to know about public opinion...

 

[RIP Pak LAW]

404. Youthias not found on this thread

404. Noony Ch**tias not found on this thread now since federal cabinet rejected ECC proposal of importing cotton from India

 

[fitpOsitive]

Pakistan to import sugar, cotton from India: Hammad Azhar
Dawn.comPublished March 31, 2021 - Updated about 2 hours ago
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Finance Minister Hammad Azhar addressing a press conference after chairing a meeting of the Economic Coordination Committee on Wednesday . — DawnNewsTV
The Economic Coordination Committee (ECC) on Wednesday allowed the private sector to import 0.5 million tonnes of white sugar from India, Finance Minister Hammad Azhar said.
The finance minister added that the country will also import cotton from India starting from end-June this year.
Addressing a press conference in Islamabad, Azhar said that the ECC also decided to reduce the prices of petrol and diesel citing lower rates in the international market. The price of petrol was reduced by Rs1 per litre while the price of diesel was reduced by Rs3 per litre, he shared.
Another decision taken by the ECC during its meeting was to fix the minimum support price for wheat at Rs1,800 per 40 kg which Azhar termed as a "relief for our farmer brothers".
The minister said sugar trade was being re-opened with India this year because of the difference in prices in the neighbouring country.
"We have allowed the import of sugar but in the rest of the world too, sugar prices are high because of which imports are not possible. But in our neighbouring country — India — the prices of sugar are much less as compared to Pakistan so we have decided to reopen sugar trade with India for up to 0.5 million tonnes for the private sector."
He said the government estimated a difference of 15-20 per cent in sugar prices in India as compared to Pakistan.
Talking about the reason for allowing the import of cotton from India, Azhar said that there was a high demand for it because Pakistan's textile exports had increased but last year's cotton crop was not good.
"The difference [in prices] affects the SMEs (small and medium enterprises. Big industry can buy it from Egypt or other countries."
Moving on to the economy, Azhar said that the PTI government had "inherited the biggest current account deficit in [Pakistan's] history and had converted it into a surplus".
He said that when the PTI government came to power in 2018, Pakistan's foreign reserves were around $8-9 billion, most of which were swaps or taken from other countries.
"Since our government came, if we add swaps, there has been an increase of $9bn of which $6-7bn swaps were cleared. This is a very big achievement," he stressed.
The minister said that he and his team were "aware" of their responsibilities and the people's expectations. "The stabilisation we have achieved in our current account, reserves, the growth in LSM (large-scale manufacturing), we will take these forward in a better way," he added.
He emphasised that every policy of the government would be based on the benefit of Pakistan and its people, adding that it would work "day and night" to control inflation.
When asked about Hafeez Shaikh's removal, Azhar said that the former finance minister's "ability and wisdom is not being denied" but it was the prerogative of Prime Minister Imran Khan to select and change his team.
PM Imran had on Monday removed Shaikh and given the portfolio to Azhar, who was already the minister for industries and production, as an additional charge.
Information Minister Shibli Faraz hinted that the prime minister removed Shaikh from the office of finance minister, as the former was not satisfied with the increasing inflation in the country. However, in a late-night tweet, the senator took a U-turn and lauded the services of Shaikh instead.
Faraz said though Azhar was given an additional charge of finance minister, he (Hammad) would continue to serve as finance minister on a long-term basis as the prime minister was quite satisfied and happy with Azhar’s performance.
Talking about the government's raising of $2.5bn in bonds from the international capital market a day earlier, Azhar, in his conference today, termed the move as "very successful".
"We had more than 100 percent subscription," he claimed.
The minister said the government got "competitive pricing" for the bonds which were "better prices than what other countries who also floated their bonds on the same day received".
In response to a question about the government's proposed bill to make the State Bank of Pakistan (SBP) more autonomous, he said it had been drafted while keeping in view the "world's best practices".
He said the government would table the bill in parliament with an "open mind", adding however, that the way the bill was "sensationalised was not correct".
Agenda of ECC meeting
There were 21 items on the agenda of the ECC meeting to be chaired by the newly appointed finance minister.
Commerce and Textile divisions had submitted five crucial summaries for approval besides others, sources had earlier told Dawn.
At the agenda no. 16, the Textile Division summary sought permission from the ECC to lift ban on import of cotton and cotton yarn from India in a bid to bridge raw material shortfall for the value-added textile sector.
In addition to this, another summary of the commerce ministry at agenda no. 20 also sought permission to allow import of white sugar from India through the Trading Corporation of Pakistan and commercial importers.
The resumption of import of these goods will lead to partial revival of trade relations. On Aug 9, 2019 Pakistan downgraded trade relations with India in reaction to the latter's decision to revoke Article 370 of its Constitution that granted occupied Kashmir a special status.
In May 2020, Pakistan lifted the ban on import of medicines and raw material from India to ensure there is no shortage of essential drugs amid the Covid-19 pandemic. This was the first step of reversing of complete suspension of trade with India.
Previously, cotton, yarn and sugar imports were allowed from all countries except India.
Prime Minister Imran, who is also Minister-in-Charge of Commerce and Textile, has already approved the summaries to be placed before the ECC for approval. It means that the prime minister is already in support of lifting the ban on these products imports from India.

At one side, India stopped our water.
On the other hand we Pakistanis gave free hand to all mafias to do whatever they could.
Then came India who took full advantage of this chaos, and sold us what was grown on the share of water that was originally Pakistani.
And had to buy it..
That's the result of internal problems we have.

 

[Ocelot]

404. Noony Ch**tias not found on this thread now since federal cabinet rejected ECC proposal of importing cotton from India

That's bad though. When sugar mafia like Khusro Bakhtiar is sitting in the cabinet, of course they'll reject such proposals even though ECC will propose something after weighing in the economic realities. These little bits of imports here and there will be helpful because they'll keep these cartels and hoarders in check.

 

[Reichsmarschall]

Even when Pakistan is not declaring it, what difference is it making? India is doing whatever it wants

This is no excuse to turn a blind eye to human rights violations in Kashmir. Only a deranged idiot would think a genocidal regime deserves a pass for ethnic cleansing just because it's not adhering to international law and world community is too busy to pay attention to economically less fortunate region of kashmir.

Pakistan is getting humiliated everyday at world stage as a sponsor of terrorism due to Kashmir.....

Freedom from tyrannical regime is unalienable right of every living being. Kashmir is human rights issue not terrorism.

 

[Menace2Society]

What are you exporting to them?

 

[Mrc]

Denied permission today by cabinet

 

[-blitzkrieg-]

Modi can take the sugar cane up his rear and prepare for a two front war . Only a war like situation near elections can him get re elected and we want to help him..

 

[vishwambhar]

This is really a great news.... Under the current circumstances due to corona where all economies are struggling to survive we should forget our disputes and try to help each other as much as possible.... India too should see what she can buy from Pakistan.... This is not a time to fight each other.... This is a time to help each other....

 

[syedtalhamaududi]

The decision has been rescinded, IK is a joker. He made the decision and carried out a U turn
Should be in the next batman film he should not not be allowed to ruin a country, or run a country

 

[GumNaam]

gotta love how Imran Khan gets india's hopes up then crashes them down.

ab sab achay ban kay so jao, chalo shabash!

 

[Gilljutt]

How many u turns before you realize that you're going in circles?